GEOS said on Monday that the contract was in direct continuation of the charter contract from 2013.
Namely, the large PSV Energy Swan was in 2013 chartered for a firm period of four years plus optional extensions (total of 5 years options).
Wintershall Norge and GEOS agreed several extensions after the expiration of the firm period, last of which was for a firm period until November 30, 2019.
The parties have now agreed that the vessel would remain firm on charter in direct continuation of the present firm period for an additional eight months until July 31, 2020.
According to the company, the charter rate reflects the market conditions. The two companies also agreed that the charterers continue having options available to charter the vessel as per the original charter until November 30, 2021.
Energy Swan is a large PSV/pipe carrier of an ST 216 design built in 2005.
Source: Offshore Energy Today